NLG Insurance Right Issue Closing Today

July 9, 2020 | Investopaper

NLG Insurance has opened the right issue from Ashad 9, 2077. Shareholders can apply for the 60 percent right share until Ashad 25, 2077.

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NLG Insurance had opened 1:0.6 right issue from Falgun 22, 2076. Previously, the closing date was fixed on Chaitra 12, 2076. However, due to the impact of corona virus and the government’s lockdown decision, the company postponed the issue.

The book closure date for the right issue was on Magh 27, 2076. Therefore, the investors purchasing shares of NLG until Magh 26, 2076 will be eligible to buy the right shares. To see the book closure notice, Click Here.

The company received approval from the Securities Board of Nepal (SEBON) on Poush 29, 2076 for the issuance of right. NLG Insurance had submitted the application to Sebon on Bhadra 24, 2076.

The insurance will issue a 60 percent right share on the current capital of Rs. 64.04 crores. The total right share quantity is 38,42,437.50 units and it amounts to Rs. 38.42 crores.

Related: Upcoming Initial Public Offerings (IPO) In Nepal

Laxmi Capital Limited will manage the right issue of NLG Insurance.

After the issue of the right share, the capital of NLG Insurance will reach Rs. 102.46 crores, thereby meeting the minimum capital requirement of non-life insurance companies.

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